Post
Topic
Board Beginners & Help
Re: Who is account of transaction fees?
by
SeriouslyGiveaway
on 04/09/2023, 02:50:32 UTC
A request is made, and a fee is then added, when someone wants to send some BTC to someone else. The sender can choose their own price or accept a preset amount. The recipient of transaction fees is?
A Bitcoin transaction is between sender and receiver. The receiver will send a receiving address to the sender who will broadcast that transaction. Then Bitcoin miners will find blocks and confirm that transaction with priority from tip of mempools. Bitcoin nodes will verify blocks, transactions.

Because miners will choose waiting transactions from tip of mempools, that means the sender has to broadcast a transaction with enough fee rate to be chosen by miners.

Learnmeabitcoin.com: What is transaction fee?[/url]